Credit Scores

[Lyyssa]

Scorewatch for Eq, I signed up for the 30 day free trial. Also got the Fico Standard through myfico about a week ago.

[Meya]

Ok cool, you are on the right track. Is there a huge difference with your scores between the two agenices that you deal with? Or are they somewhat close?

[jillg123]

Hi

Sorry I am new and I know I am being stupid about this but why is it important to get these scores you are all wanting to get? What is a good score and what is a bad score and what difference does it make which score you have?

Bye for Now
Jill

[stiletto]

Hi jill, you always want a high credit score. Your score can range from 350 to 850. The higher your score the better. Your credit score is the report card for adults. If you apply for a home loan, car insurance, even a job, your credit score will be reveiwed. If your score is low, you will always, always get the higher rates. If your score is high you will always get the lower rates. The score let creditors know how you handle yourself. I would advise you to pull all three of your scores to see where you are at. I just pull mine and I am in the low 600's. I am working to get to the high 600's - low 700's by the end of the year. This forum is a very good start for you.

[Meya]

You took the words right out of my mouth Stilelto.....lol. Thanks!
Also the new fico scoring system (like TU Empire) goes up to the 900's. I will find a link for it.

Here is the perfect link for you Jill, it is by Mary Tompkins;
http://www.financeglobe.com/Finance/...ore/Page1.html

PS, everything you mentioned is perfect Stiletto!

[Meya]

This Response is to trinity3 from yoyo11

Originally Posted March 30, 2008

Hello, i have creditchecktotal.com, they will let you look at all three credit reports, all three credit scores and you can order them everyday if you want for $19,99 a month. I used to have Bank of America credit monitoring, but after I ordered my TRUE Fico score it was off by 65points! I called Bank of America and they said they used there own scoring system. Which is ok , but not so off.
So, creditchecktotal.com used their own scoring system too..again I ordered my TRUE Fico score and they where off 3points. So I'm staying with them. I think there the highest in cost, but the benefit is..
You can order new reports anytime (all three)
You can order new score any time (all three)
Credit change alerts, and the monitor your avalible credit percentage.
Try them, they are good

[lyyssa01]

For Eq we have the trial for Scorewatch. It's probably my favorite. I like the layout and the e-mail alerts, plus the way they graph your scores. For the other two companies we just buy it from Fico Standard which just shows the score for the day you buy it, and let you view it for a month.

Even though we like Scorewatch I don't think we're going to purchase it. After this monthly trial runs out I'll buy one more score for Ex for dh (I'm sure it's went up, but haven't checked) and then probably not purchase anymore until October. By then all our rotating debt will have been paid off and given the banks a couple of months to report it.

[Meya]

I agree with you lyyssa01. I disenrolled myslef from the scorewatch also, and I do not like the fact that you have to purchase your report for a one time view neither. I will just do like you, pay for it when I am ready to see it, whcih will not be often.

[Meya]

Hi

Sorry I am new and I know I am being stupid about this but why is it important to get these scores you are all wanting to get? What is a good score and what is a bad score and what difference does it make which score you have?

Bye for Now
Jill

3/30/2008 updated

[jillg123]

Hi

Thanks for your replies. I think I have a high credit score because I have loads of high credit limits and hardly ever use my cards except for holidays. Mainly I came on here because a close friend has got themselves into bad debt and I want to know what to advise them. I guess you are saying they should first check their credit score.

Bye for now
Jill

[Meya]

Not only scores but the entire credit report. It is free and FG have add a resource link for that. I would hope that you are checking your also, it is very important not to let anyone destroy your good credit rating. Jill have you checked your true fico scores? You can get them from myfico.com if you have not checked them. Here is the link for your friend to go to in order to get all 3 cr's for free.

1. All three free cr's
http://www.financeglobe.com/SocialNe...alcreditreport

2. This is for you Jill
http://www.myfico.com/

[Lyd]

I'm new to this forum and have been working on rebuilding my credit for 2 years now and have deleted 46 (yes 46) negative items!!! I've got about 4 left on Equifax, 7 on Experian and 6 on TU. I think my credit score is just over 600. I have about 12 major credit cards and several department store but can't get anything else b/c I'm riding my credit limits. I'm planning on paying off 50-70% on every card tonight. Does anyone know how many points that can increase my score and how long it takes to show up? Thanks so much for your help!!!
Lyd

[Meya]

Here are some great links for you on this question. But I wuould like to say that, no one knows how the fico scoring system adds or takes away scores. They have their own way of doing things. I think it is a good idea for you to read about the new fico scoring system. This link was origanlly given by another member here on 2/10/2008 and it still works.

1. New Fico 08 scoring system
http://online.wsj.com/art...email.html

2. If you have any questions about this link, reply to it at this link. Please make sure that you click "Post Reply" when you want to respond or ask questions.
http://www.financeglobe.c..._id=100225

Hope this helps!

[Meya]

Quoted From Lyd:

Thanks Meya! I really appreciate it. You seem to know quite a bit about all of the ins and outs on most cc and CLI. Good for you! My goal is to be in the 700 club within the next 3-6 months.

You are so welcome! Well I have learned from everyone in here or should I say we all learn from each other. Don't worry you will be in the 700 club within no time, just keep doing what you are doing and you will be the ONE!...lol

[Meya]

Here is another good thread for you Lyd!